here's an example of what...
I knew was happening in speaking with some farming industry vets- the corn harvest was huge {more than enough to meet ethanol needs} and final numbers have not yet come out, but they will in January. Will it drop the price of milk? To the extent that milk prices are impacted by corn prices it should - since corn prices should go down.
Corn Belt enjoys big-time harvest
Illinois growers reap 2.31 billion bushels from '07 crop
By JIM SUHR
THE ASSOCIATED PRESS
Published Thursday, November 22, 2007
Earl Williams has heard the joke about how farmers always find a reason to complain. But like many Midwest farmers, the northern Illinois grower of corn and soybeans has no gripes this year.
"It's probably the best corn crop I've ever had," Williams, 57, said from his land near Rockford, where yields in some fields almost doubled over last year.
Friendly weather that included 14 inches of crop-quenching August rain propelled Williams to banner yields - 140 to 205 bushels per acre over his roughly 650 acres of corn, complemented by yields of 38 to 61 bushels per acres over about 500 soybean acres.
Such testimonials are common throughout the nation's Corn Belt, where farmers who converted soybean acreage into cornfields to meet expected demand from would-be ethanol plants were rewarded with big-time harvests and relatively high prices.
Illinois corn growers reaped 2.31 billion bushels, 27 percent more than last year, from more than 13 million acres, nearly 2 million acres more than 2006, the Illinois Farm Bureau's John Hawkins said. The average yield of 178 bushels per acre is the second biggest in the state, where records date to 1866, Hawkins said.
The corn harvest appears equally robust across the country. Though official numbers won't come until January, Hawkins said, estimates are that U.S. corn growers produced a record 13.2 billion bushels of corn, one-fourth more than last year. The roughly 86 million acres of harvested cornfields - the most since 1933 - had an average yield of 153 bushels, falling short of the 2004 record of 161 bushels.
Other Corn Belt states are posting big numbers. According to U.S. Agriculture Department estimates, North Dakota's corn production will be 279 million bushels and Nebraska's 1.5 billion bushels - both records. Nebraska's average yield is expected to be 162 bushels an acre, second only to 2004.
Iowa farmers reportedly harvested a record 2.44 billion bushels of corn from roughly 14 million acres, averaging 175 bushels an acre compared with 166 bushels an acre last year.
Overall soybean production fell, largely because of farmers' shift to corn and the lack of rainfall at key times during the growing season, but prices remain strong.
Illinois soybean growers turned out nearly 361 million bushels, down 25 percent from a year ago, Hawkins said. The yield averaged 44 bushels over the state's 8.2 million acres of soybeans, a slide from 48 bushels for the slightly more than 10 million acres last year.
U.S. farmers brought in 2.6 billion bushels from 62.8 million acres of soybeans, averaging 41.3 bushels per acre.
All told, "it was a very good year for all grains" when it came to pricing on everything from wheat to beans, said Rick Tolman, the National Corn Growers Association's chief executive.
